indexes in this article
Evening Market Review, Compiled by Dow Jones Newswires:
+++++ HOLIDAY NOTIFICATION +++++
MONDAY: Due to Pentecost, there is no trade in Denmark, Norway, Austria and Switzerland. Stock exchanges will also remain closed in Sweden (national holiday) and South Korea (Remembrance Day).
+++++ SHARE MARKETS (18:29) +++++
INDEX reading + -% + -% YTD
EuroStoxx50 3 838.42 + 1.45% -10.70%
Stoxx50 3 678.19 + 0.85% -3.67%
DAX 14 653.81 + 1.34% -7.75%
FTSE 7 617.63 + 1.12% + 2.01%
CAC 6 548.78 + 0.98% -8.45%
DJIA 32 902.09 + 0.01% -9.46%
S&P 500 4117.25 + 0.21% -13.62%
Nasdaq Comp. 12,027.65 + 0.12% -23.12%
Nasdaq-100 12 561.36 + 0.11% -23.03%
Nikkei-225 27 915.89 + 0.56% -3.04%
EUREX stand + ticks
The future of the Bund 149.01 -90
+++++ GOODS MARKETS +++++
ROHL last VT-Settl. +/-% +/- USD% YTD
WTI / Nymex 118.72 118.87 -0.1% -0.15 + 63.1%
Brent / ICE 119.75 119.72 + 0.0% 0.03 + 58.7%
METALS last day before +/-% +/- USD% YTD
Gold (spot) 1,842.42 1,851.15 -0.5% -8.73 + 0.7%
Silver (Spot) 22.07 21.93 + 0.6% +0.14 -5.3%
Platinum (spot) 1033.80 1012.99 + 2.1% +20.81 + 6.5%
The future of copper 4.44 4.48 -0.8% -0.04 -0.2%
Oil market prices are volatile. The price of a barrel of the WTI variety is now down 0.1 percent, while Brent’s price has hardly changed. Somewhat supportive, Saudi Aramco, the world’s largest oil producer, has significantly raised its selling price in the East Asia region. According to observers, there should be an expectation that demand will remain strong.
+++++ US FINANCIAL MARKET +++++
After the week-end levy introduced, Wall Street showed slight gains on Monday. It was not possible to maintain much higher profits at the start of the trade. The trading environment remains very volatile. The strong US labor market report for May recently fueled concerns about further increases in key interest rates. At the beginning of the week, the US economic data agenda is empty. Investors are already focusing on May consumer prices, which will be released on Friday and will contain further information on inflation developments. In terms of individual values, the emphasis is on Amazon’s share with a 1:20 share split. The securities are gaining 3.2 percent. up to $ 126.26. This long-announced step is now underway, so each investor will have 20 times more Amazon stock in their portfolios than before. Twitter ben 2.9% billionaire Elon Musk accused his takeover target Twitter of failing to fulfill its obligations under the takeover agreement. Musk believes he has the right to terminate the contract. Aikido Pharma fell 8.8 percent to $ 0.27 after the company decided to reverse the stock split to meet its requirement to remain on the stock exchange.
+++++ COMPANY OUTLOOK +++++
No important dates have been announced.
+++++ ECONOMIC PERSPECTIVES ++++++
No important dates have been announced.
+++++ FINANCIAL MARKETS EUROPE +++++
European stock exchanges started the week with strong gains. The Brsian family spoke of economic optimism. In China, the Caixin purchasing managers index for the services sector rose significantly in May. As expected, business was calm. Many market participants in Germany took advantage of Pentecost for an extended weekend. The stock exchanges in Austria, Switzerland, Denmark, Norway and Sweden were also closed due to the festival of Pentecost. The attention was still focused on interest rates, the more so that the ECB will probably announce interest rate hikes from July on Thursday. Most observers assume that the ECB will raise interest rates by 25 basis points in July and September. Despite the announcement of an increase in oil production by OPEC, the sector grew by 1.3% at the beginning of the week. The outlook is favorable given signs of shortages stemming from the EU’s embargo on Russian oil. Both Repsol (+ 1.7%) and Eni (+ 1.2%) may start balancing deliveries from next month, albeit at low levels initially. A supply of planes was needed. Airbus (+ 2.5%) and MTU (+ 2.6%) posted above-average profits on the DAX, Safran grew 2.4 percent in Paris and BAE Systems in London by 2.1 percent. Jefferies analysts are positive about the sector. Jefferies continues to see Airbus as the first choice in the European aviation and defense sector. Just Eat Takeaway rose 11.8 percent after reports of alleged interest in Grubhub by founder Matt Maloney and private equity investor General Atlantic. Fantasy about consolidation also supported other companies in the sector: Hellofresh gained 6.8 percent, and Delivery Hero 9.4 percent. Changes in the composition of the index in the DAX family were largely in line with expectations. Purchase of index funds for specific implementation on June 17-20 could provide stronger price movements for the stocks in question.
+++++ CURRENCIES +++++
Last +/-% Mon 8:36 Fri 5:01% YTD
EUR / USD 1.0692 -0.3% 1.0729 1.0721 -6.0%
EUR / JPY 140.72 + 0.3% 140.18 140.14 + 7.5%
EUR / CHF 1.0366 + 0.5% 1.0322 1.0317 -0.1%
EUR / GBP 0.8535 -0.6% 0.8566 0.8562 + 1.6%
USD / JPY 131.62 + 0.5% 130.65 130.74 + 14.3%
GBP / USD 1.2528 + 0.3% 1.2523 1.2521 -7.4%
USD / CNH (offshore) 6.6580 + 0.1% 6.6588 6.6484 + 4.8%
BTC / USD 31 228.44 + 4.3% 31 226.07 29 419.07 -32.5%
The euro is a little lighter. According to the RBC’s currency exchange experts, it should show strength ahead of Thursday’s ECB interest rate meeting. The central bankers there are likely to see July approaching rate hike a signal that creates a demand for the euro in advance. The dollar index gained 0.3 percent. Sterling is also up, despite a vote of no confidence in Prime Minister Boris Johnson tonight.
+++++ EAST ASIA FINANCIAL MARKETS +++++
Stronger – Only in Sydney the rates fell slightly. A meeting on Australian central bank interest rates is on the agenda here during the week and triggered caution. In the US, strong data from the US labor market raised concerns about a further significant rise in key interest rates. The gradually loosened blocking measures created confidence in the Chinese stock exchanges. In addition, the Caixin index of purchasing managers for the Chinese services sector rose significantly in May from a very low 36.2 to 41.4 and thus joined the series of recently increased indexes of purchasing managers. Oil equities rose as oil prices continued to rise. In Tokyo, West Japan Railway (+ 4.6%) and ANA Holdings (+ 2.9%) saw stronger gains. Hopes are supported that travel activity will soon revive again. On the other hand, US interest rates have recently rebounded as a result of speculation on interest rate hikes. real estate stocks in Hong Kong.
+++++ COMPANY REPORTS FROM 13.30 +++++
Billionaire Elon Musk has accused his takeover target on Twitter of breaching his contract. Musk believes he has the right to terminate the contract. Musk said Twitter declined to provide the necessary details to facilitate its own assessment of the number of spam and fake accounts on the social media platform. In April, Twitter accepted Musk’s $ 44 billion offer to acquire and privatize the company.
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DJG / bug
(END) Dow Jones Newswires
June 6 2022 12:35 ET (4:35 PM GMT)